NEWS & ADVICE : CREDIT CARDS
Credit card defaults rise to 17 percent
By Ankit Sharma
Dec 16, 2009
Print    Email    RSS   

The Centre disclosed that defaults in credit cards increased to Rs. 5,094 crore last fiscal as against Rs. 2,852 crore the previous year.

The Finance Minister, Pranab Mukherjee said that the bad debts accounted for 17 percent of the total outstanding against the cards as compared to 10 percent a year ago.

At the end of the fiscal 2008-09, there were 2.46 card holders in the country.

Maximum people held ICICI cards. ICICI cards constituted 30 percent (77.82 lakh)of the total followed by HDFC at 43.88 lakh.

Amongst the public lenders, State bank topped the list with 27.23 lakh card holders at the end of March 2009.

Amongst the foreign banks, Citibank issued maximum cards at 26.40 lakh, followed by HSBC at 19.75 lakh and Standard Chartered at 11.45 lakh.

Lenders have become cautious regarding credit cards. Recently ICICI announced that it would block all its credit cards in case of default on one.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Multi-currency card- A hassle-free...
Factors affecting car insurance premium
Converting credit card outstanding into a...
12 point conduct checklist for bank and...
Easier and faster banking through Smartphones


BTM Layout ℂall ℊiℝls 08884081673 pankaj...
Real love Spell Caster+91-9887665596 Uk,Usa
To Solve The Problems In Any Relationship...
Lonavala Caℓℓ Girℓs 7219139868 Female...
Aundh Call Giℛls 7038899366 Baner Female Escoℛts
how to change my phone no

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive